Ghana: New Management Committee Appointed

Accra — A new management committee has been appointed by Mr Joseph Koranteng
Appenteng, one of the 21 children of Mr. S. C. Appenteng, the late
salt magnate and founder of Panbros Salt Industries Limited, to
conduct the affairs of the company till proper structures are put in
place for the beneficiaries to be fairly represented on a yet to be
reconstituted Board of Directors.

Meanwhile, the Board of Panbros Salt Limited has been dissolved with
immediate effect.

Announcing this in a press release issued in Accra last week, Mr.
Joseph Koranteng Appenteng, an elder son of the late Mr Appenteng,
said their late father nurtured Panbros with a desired family
character that his children be identified with.

According to Joseph Appenteng, most of the late father's children
spent all their life working in the different capacities at Panbros
to make it the leading salt industry on the West Coast of Africa.

However, they have detected an orchestrated plan on the part of the
Managing Director and his uterine brother, Kofi Appenteng, to exclude
the rest of his siblings from Panbros by gradually seeking to smother
the family character of Panbros.

He said the brother, Mr. Leon Appenteng, who is the 18th child of the
21 children, is the Managing Director.

He sought to destroy the family bond that existed at Panbros but they
have thought that, with time, a way would be found to narrow the
difference between them and Kofi Appenteng.

Mr. Joseph Appenteng said unfortunately, 15 months after the death of
their father, things have grown from bad to worse, which, if not
nipped in the bud, could destroy the huge empire which he bequeathed
to them.

He said things became manifestly clear after the reading of their
father's will, who in which he divided his shares in the company
evenly among the different maternal blocks of his children.

He stated thar the late father had children by various wives and each
set of children constituted a block.

He added that, immediately after the late father's will was read, a
suit was commenced which has prevented the executors to carry out the
intentions of the will.

This has brought both administrative and financial dealings at
Panbros to a halt with an imminent sign of the collapse of the
company.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Related

Follow AllAfrica

AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 2000 news and information items daily from over 130 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Lagos, Monrovia, Nairobi and Washington DC.